- Report: #446416
Complaint Review: Flagstar Bank - Troy Michigan
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Author Confirmed
Why?
Flagstar Bank
5151 Corporate Dr Troy, 48098-2639 Michigan, U.S.A.
Phone:
800-945-7700
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Flagstar Bank misrepresented pmi insurance and abused it's use in the mortgage Troy Michigan
Flagstar uses rogue agents to secure subprime loans. Included in this loan is a reference to PMI insurance. You are told it will not go into efect as long as payment history is good. My insurance kicked in 6 months after the loan was in effect. In five years we have never been late on a payment and by their own records the loan is lower than 78% of value. They try to get you to pay for a new appraisal which would cost more than 6 months of the PMI cost. They also told me they could do a "driveby" appraisal for $200. They quickly dropped this when the revelations of mortgage fraud surfaced the past 18 months. They also by-pass the 78% guidline by fusing it with a loan balance to original loan which has nothing to do with actual value. They use a company called eAppraisalT,LLc 1-800-791-7145. The contact person is Linda Mcavoy who is Sec. to the President 1-800-945-7700. She will try to give you Lilibeth Velez who is basically a dumping ground and dead end for complaints. They try to make it so frustrating you just give up.
Skid41
rives, Michigan
U.S.A.
Skid41
rives, Michigan
U.S.A.
